PSE INDEX UP

The Philippine Stock Exchange (PSE) index today rose in renewed optimism although uncertainties continue with two sub-sectors down with the next psychological milestone within reach as it closed at 6,956.65, up 18.69 or 0.27 percent.

Market bellwether SM Investments advanced by P10 to P1,015 with foreign buying of P311 million, one of 96 gainers in trading that had 113 losers and 41 shares unchanged.

Net foreign selling amounted to 379 million on foreign buying of P1.505 billion and foreign selling of P1.884 billion with the industrials and property sub-sectors posting losses of 0.11 percent and 0.68 percent respectively.

The financials were up 1.50 percent thanks to the 28.42 rise in Rizal Commercial Bank which surged on disclosure of the investment of Japan's Sumitomo conglomerate resulting in the rise of the bank shares by P5.40 to P24.40 towing as a result of interest in bank stocks.

BDO Unibank went up by P1.80 to P115, while Jollibee Foods lost P2 to P213.60, and SM Prime was unchanged at P37.70.

Ayala Land was the most active stock with P406 million in trade, of which P168 million were foreign selling resulting in its loss by 55 centavos to P36.15. Value turnover amounted to P5.206 billion with market analysts seeing positive sentiment tomorrow as investors are seen to come in.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC